Mack Trucks Announces Layoffs And Says Tariffs Are To Blame
Trump's still sticking with the tariffs he promised and Republicans voted for, something every single person who already knew what a tariff was knew would end poorly. On the automotive side, these Republican tariffs are already keeping cars out of the U.S. and will soon raise prices on most of the vehicles you might want to buy. Now, we're beginning to see yet another consequence of this disastrous policy. On Thursday, Mack Trucks announced plans to lay off several hundred workers, and the truck manufacturer specifically blamed the Republican tariffs, the Pennsylvania Capital-Star reports.
Between 250 and 350 workers at Mack's Lehigh Valley Operations center near Allentown, Pennsylvania, will lose their jobs over the next 90 days. That's not the only location that will see layoffs, though. FreightWaves reports an additional 50 to 100 workers at the Volvo subsidiary's Hagerstown, Maryland factory will be out of work by May 2, adding to the 43 workers who were already laid off earlier this year.
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It may only get worse from here, too. As gCaptain, a shipping industry news outlet, reports, despite having a strong Q1, the Port of Los Angeles and other U.S. ports are bracing themselves for a drastic drop in cargo arriving from overseas, as well as fewer exports. According to the latest Global Port Tracker report, a 19-month pattern of growth is expected to end, with May seeing a 20.5% drop in cargo volume. June isn't expected to be any better, with volumes also expected to drop in July and August.
Without as many containers coming in, trucking companies won't have as many goods to haul, which will be bad for new truck orders. It could be even worse for the truckers and mechanics, with layoffs rolling in and smaller trucking companies closing down. For example, Davis Express, a 160-truck carrier in Florida, just announced two days ago that it will close down this summer and will be letting 117 truck drivers, 35 office workers and 11 mechanics go in the coming months.
Read More: https://www.jalopnik.com/1837740/mack-trucks-worker-layoffs-tariff-impact/
The whole supply chain looks endangered
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